10% Deposit
R183x35
1.4.1 Calculate the value of the machine before VAT was included.
1.4.2 What is the total cost of the machine if it is bought on terms?
1.4.3 The knitting machine will depreciate by 15% each year. Paul estimates that the machine which
presently is worth R4 500 will be worth less
than R3 000 after two years. Use calculations to
verify whether Paul's estimation is correct.

Question

nokukhanyamthethwa97 nokukhanyamthethwa97

13-08-2024
Mathematics

Answered

10% Deposit
R183x35
1.4.1 Calculate the value of the machine before VAT was included.
1.4.2 What is the total cost of the machine if it is bought on terms?
1.4.3 The knitting machine will depreciate by 15% each year. Paul estimates that the machine which
presently is worth R4 500 will be worth less
than R3 000 after two years. Use calculations to
verify whether Paul's estimation is correct.

Answer :

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Answer: 1.4.1 To calculate the value of the machine before VAT was included, we can use the formula: Value before VAT = Value after VAT / (1 + VAT rate)

Given the total cost of the machine after VAT (including the deposit) is R183x35, and assuming the VAT rate is 10%, we can calculate the value before VAT as follows:
Value before VAT = R183x35 / (1 + 0.10)

1.4.2 To find the total cost of the machine if it is bought on terms, we add the deposit to the total cost after VAT. Using the given deposit of 10%, we can calculate the total cost as follows:
Total cost = R183x35 + (10% of R183x35)

1.4.3 To determine the depreciation and verify Paul's estimation, we can use the formula for depreciation: Final value = Initial value * (1 - depreciation rate)^n, where n is the number of years.

Given the initial value of the machine is R4,500, the depreciation rate is 15% per year, and the time period is 2 years, we can calculate the final value and compare it with Paul's estimation.